DGAP-News: Fidor Bank AG / Key word(s): Strategic Company
Decision/Product Launch
Fidor Bank AG: Ready to board: Fidor TecS AG holds the first 'The
Future of Banking Developer Day' for developers and partners
08.07.2014 / 11:15
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Ready to board: Fidor TecS AG holds the first "The Future of Banking
Developer Day" for developers and partners
+++ International "Pirates of Banking" meet in Munich
+++ "fidorOS", the world's first open operating banking system presented
+++ Banking API ensure international growth for Fidor Group
+++ API philosophy is a key extension to the Fidor business model
+++ Fidor TecS AG sees itself as the innovation leader in the FinTech
segment
Munich, 08/07/2014 Fidor sets its sails: on 26/06/2014 in Munich Fidor Bank
AG (http://www.fidor.de) organised the first Developer Day on the future of
banking, entitled "Pirates of Banking".
More than 40 international guests from San Francisco to Moscow accepted the
invitation to this unusual event - including developers, partners and
potential customers who wanted to take a closer look at the innovative
technological solutions from Fidor TecS AG (http://www.fidortecs.de).
The wholly-owned subsidiary of Fidor Bank AG is a developer and service
provider specialising in modular community, banking and payment software
solutions. The aim of the event "Pirates of Banking" was to present the
fidorOS standard interfaces for Fidor Community, Payment and Banking as
well as the partner usecases from Fidor Eco-Systems. (Video of the event:
http://bit.ly/1sqyRDd)
Business performance relevant for capital markets
The possibility of implementing the services offered by the Fidor Group
simply and at low cost via API Infrastructure has a sustained impact on all
areas of the Fidor Group, including:
- Fast, simple connections to B2B customers in all divisions.
- Fast, simple connections to external development partners.
- Fidor Smart current account becomes more attractive thanks to
increasing number of integrated products.
- Increasing mobile capability of Fidor products.
The API Infrastructure gives the bank the opportunity to participate in
innovative developments much more simply and quickly and to profit from
them. The result of this technological advance is a massive acceleration of
development processes, which will lead to a rapidly increasing number of
users, customers and transactions - and so will ultimately also increase
the amounts of money held and transferred via the Fidor system.
"The metrics 'User Engagement Index' and 'Customer Life Time Value' are
vital for us, because they also drive up the value of the Fidor Group",
says Matthias KrÃ¶ner, CEO of Fidor Bank AG and a board member of Fidor
TecS. "Expanding the Fidor range via this technology is key to driving
these metrics upwards. And it underlines our innovation leadership in the
FinTech segment."
fidorOS is the basis for a smart banking ecosystem
At the Developer Day a community of developers interested in new banking
was able to experience the fundamentally different IT processes from Fidor
TecS up close and in detail. "That was just the beginning", added Matthias
KrÃ¶ner, speaking for Fidor Bank AG. "We all know and love smart, open
operating systems that enable third parties to supply content apps for the
widest possible range of topics and situations in life. We learnt about
that from smartphones and now we are embarking on that course with fidorOS,
at a national and international level."
As well as enabling the services offered by Fidor TecS AG to be implemented
simply and at low cost, the modular software products and app concepts have
a number of vital credence qualities: Integration is only possible by
partners in the Fidor network and is thus subject to an internal
validation. This method is fundamentally different to the conventional
approach and guarantees the highest standard of quality assurance.
"Open banking initiative from Fidor Bank is unique worldwide"
The Developer Day under Fidor's flag in general and as well as fidorOS in
particular was a great success and it was welcomed with great enthusiasm.
All the positive feedback from everyone involved and from the guests was
further confirmation that Fidor Bank AG has chosen the right path with its
social banking approach. "We are delighted that this unique open banking
initiative from Fidor Bank AG is so popular, because our aim is to win over
even more like-minded people for our idea of tomorrow's banking", explains
Frank Schwab, spokesman of the board of Fidor TecS AG. "We are "ready to
Board", as the pirates say and together with our partners we want to offer
more innovative IT solutions going forward that represent real added value
for our customers."
This "The Future of Banking Developer Day" in Munich was the first in a
series of events that will take place internationally from autumn 2014,
including in Berlin, London and Moscow.
Conferences like these will contribute to making fidorOS better known
internationally and to developing partnerships with developers and content
providers in the finance sector in order to pursue Fidor Bank AG's
international growth path.
Great M&A activity in the FinTech segment
The Developer Day took place at a time of great M&A and investment activity
in what has become known as the FinTech segment.
- SIMPLE was acquired by BBVA for USD 117 million. (source:
http://nyti.ms/1cvpX1E)
- VÃ¤rde Partners, Blumberg Capital and other VC funds made a EUR 40
million investment in Kreditech. (source: http://bit.ly/1odowXn)
- Moven completed a capital increase for EUR 8 million. (source:
http://bit.ly/1pTOciF)
- SofortÃ¼berweisung was sold for USD 150m to Klarna. (source:
http://bit.ly/1r2izQT)
"This trend shows that although it is still so young, there is already a
massive amount of activity in the segment of web-driven FinTech
businesses", said Fidor CEO Matthias KrÃ¶ner. "As part of this trend we were
very keen to be able to demonstrate our value-based development strategy,
and our Developer Day was an absolutely vital platform for doing so."
About Fidor Bank AG:
Fidor Bank AG (http://www.fidor.de) is an internet-based direct bank
licensed in Germany. The Fidor Smart current account is a primary bank
account, offering a combination of a classical bank account with internet
payments and innovative banking services. The services on offer to
corporate clients include selected financing products and a Fidor Smart
business account especially created for eCommerce.
About Fidor TecS AG:
The 100% subsidiary Fidor TecS AG (http://www.fidortecs.de) is an
acknowledged innovation leader in the FinTech segment. In January 2014 the
company was shortlisted for the FinTech50. This means the company enjoys
the distinction of belonging to the 50 most innovative and disruptive
companies in the still young FinTech industry worldwide (Source:
http://bit.ly/1fbwn4B). Last year Fidor Bank AG received a number of awards
thanks to the technology of Fidor TecS AG, including the titles of "Most
sustainable Bank Germany 2013" and "Most innovative Internet Bank 2013".
Press contact
Nick Riegger | SandstraÃe 33 | 80335 Munich | Germany
Tel.: +49 89 189 085 157 | Fax: +49 89 189 085 199 |
presse(at)fidor.de
End of Corporate News
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Language: English
Company: Fidor Bank AG
SandstraÃe 33
80335 MÃ¼nchen
Germany
Phone: +49 89 189 085 233
Fax: +49 89 189 085 199
E-mail: info@fidor.de
Internet: www.fidor.de
ISIN: DE000A0MKYF1
WKN: A0MKYF
Listed: Freiverkehr in Berlin, DÃ¼sseldorf; Frankfurt in Open
Market (Entry Standard)
End of News DGAP News-Service
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